MKTG EXAM 2 Q15

What is the primary difference between an agent and a broker?

An agent represents a company on a permanent basis while a broker is employed temporarily

Two years ago, the private equity firm you are the general partner of purchased a portfolio of regional shopping centers in Texas. The shopping centers have performed well, but not as well as you would like. So, you have decided to convert them to superregional shopping centers in an effort to boost their profits. Which of the following marketing-related steps will you need to take in order to affect this transformation?

You will need to expand the width and length of your product mixes

The use of the telephone and other nonpersonal media to introduce products to consumers, who then can purchase the products through the mail, telephone, or the Internet is called

direct marketing

The primary advantage of automatic vending as a form of retailing is that

it eliminates the need for sales personnel

A shopping center containing a Macy's, Sears, and JCPenney as well as dozens of specialty shops, restaurants, and entertainment is most likely a

regional shopping center

Use the following to answer the questions. Lands' End offers clothing and accessories for all members of the typical household. For many years, the products were sold only through catalogs. Later, they were available through the company on its Internet website. In the past few years, Lands' End has partnered with Sears to offer selected Lands' End products inside of Sears retail stores. This move by Lands' End has been criticized by some marketers because it was thought that the Lands' End products were superior in quality to those that are available in Sears stores. Additionally, the products available in Sears stores include Craftsman tools, lawn care equipment, and household appliances, which are not Lands' End types of product lines. This may create mixed messages about Lands' End to prospective customers. ​ Refer to Scenario 15.2. When Lands' End sells its products through a catalog or the Internet, it is most likely a(an) ____, selling through ____.

retailer; direct marketing

A store that offers a wide variety of shoes for men, women, and children would most likely be considered a(n)

specialty retailer

A functional and psychological picture in the consumer's mind of a retail store is called

store image

A retailer engaged in direct marketing would probably select television home shopping over online retailing to sell a new kitchen device because of

superior ability to demonstrate the product

​Halle went to shop at a local store called Fontana's, but found out that if she wanted to take advantage of their low prices, she would have to become a member. Fontana's is an example of a

wholesale club